Wells Fargo & Co will pay fines of about $97.8 million for inadequate oversight of its compliance risks, enabling the apparent violation of U.S. sanctions against Iran, Syria and Sudan, federal authorities said on Thursday. The Federal Reserve and the Treasury Department’s Office of Foreign Assets Control (OFAC) said the bank’s deficient oversight enabled it […]
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The tech ethics group Center for Artificial Intelligence and Digital Policy is asking the U.S. Federal Trade Commission to stop OpenAI from issuing new commercial releases of GPT-4, which has wowed some users and caused distress for others with its quick and human-like responses to queries. In a complaint to the agency on Thursday, which […]
The insurance industry is undergoing a transformative shift driven by the rapid adoption of artificial intelligence (AI) technologies. The integration of AI into insurance processes is revolutionizing traditional methods, leading to more efficient, accurate, and customer-centric services. Traditionally, the insurance sector relied heavily on human expertise, manual underwriting, and time-consuming claims processing. However, the advent […]
Artificial intelligence (AI) is transforming the way we live and work, from chatbots and self-driving cars to personalized medical treatments and intelligent home assistants. As AI innovations continues to evolve, it’s becoming increasingly urgent to establish a regulatory framework that promotes ethical development and deployment all while ensuring national security. But as we dive into […]
The United Nations wants to get people talking in New York this week about investing in safe water, sanitation and hygiene, which it describes as “the most basic human need for health and wellbeing”. Puzzles remains over how best to count the financial, social and environmental costs and benefits of water, but many investors now […]
Germany and Japan agreed to cooperate closely on economic security on Saturday during their first ever high-ministerial government consultations, held amid tensions over global supply chains and economic disruptions caused by the war in Ukraine. German Chancellor Olaf Scholz, accompanied to Japan by six ministers, is looking at ways to reduce German dependence on Chinese […]
IoT in transportation is already taking over. IoT for automotive involves connecting things through embedded sensors, actuators, and other gadgets that collect and send information about actual activities. The transportation industry is transforming due to the use of IoT-enabled technology. IoT can address many problems in the transportation industry, but it may also face challenges. […]
Britain’s National Cyber Security Centre is reviewing whether Chinese-owned video app TikTok should be banned from government phones, security minister Tom Tugendhat said on Tuesday. TikTok has come under increasing focus over fears that user data could end up in the hands of the Chinese government, undermining Western security interests. The United States, Canada, Belgium […]
Startup-focused lender SVB Financial Group became the largest bank to fail since the 2008 financial crisis on Friday, in a sudden collapse that roiled global markets, left billions of dollars belonging to companies and investors stranded. California banking regulators closed the bank, which did business as Silicon Valley Bank, on Friday and appointed the Federal […]
In the past, spies used to rely on pen and paper to communicate their secrets. The risk of physical interception was high, but the evidence could be destroyed by simply burning the paper. With the rise of digital communication, spies have new challenges to navigate. The risk of interception may have been reduced, but data […]